USDCAD’s Bounce Looks Frail As Bearish Bias Overpowers
USDCAD’s recent positive impetus off a multi-year low has been muted by the Ichimoku lines, while the capping 50-day simple moving average (SMA) and the lingering Ichimoku cloud overhead have once again guided the pair downwards. The Ichimoku lines are...
USDCAD 1.2500 Major Resistance
The US dollar has recovered sharply higher against the Canadian dollar after oil price crashed by nearly ten percent from the weekly highs. The USDCAD pair has moved back towards the 1.2500 resistance level, although bulls are struggling to move...
USDJPY 108.40 In Focus
The US dollar is starting to slide against the Japanese yen currency after the Bank of Japan meeting revealed that the central bank carved out more flexibility for fighting inflation. A key technical battle is now underway as bulls need...
EUR/USD Tests SMAS
Despite piercing the support of the 1.1910/1.1915 zone, the rate did not decline, as it found support in the 1.1900 level. During the morning hours of Friday’s European trading, the rate was testing the resistance of the three hourly simple...
Market Morning Briefing: Dollar-Yen Has Not Been Able To Rise Above 109.40
STOCKS The rise after the US Fed meeting has not sustained. The global equities have failed to get a strong follow-through buying thereafter. This keeps our broader cautious view of seeing a sharp correction in the equities with limited upside...
EURUSD Plunges after Cap Around 1.2000; Bearish Prressures Grow
EURUSD has nosedived below the Ichimoku cloud’s lower band at 1.1932 and is flirting now with the 50-period simple moving average (SMA) around 1.1921. The 100-period SMA, which recently curbed positive price action around 1.1990, is falling with the 200-period...
NZDJPY Tests 79 Level, But Mixed Momentum Clouds Near-Term Bias
NZDJPY is testing the upper Bollinger band around 79 after successfully cracking the recently formed ceiling of 78.65. Nevertheless, momentum indicators have receded slightly in recent days. The fast-moving %K line of the stochastic oscillator has slipped below the %D...
NZDJPY Tests 79 Level, But Mixed Momentum Clouds Near-Term Bias
NZDJPY is testing the upper Bollinger band around 79 after successfully cracking the recently formed ceiling of 78.65. Nevertheless, momentum indicators have receded slightly in recent days. The fast-moving %K line of the stochastic oscillator has slipped below the %D...
Elliott Wave View: AUDUSD Rallies Post Fed Meeting
Short term Elliott Wave View suggests that AUDUSD ended wave ((4)) pullback at 0.7617. Pair however still needs to break above wave ((3)) high at 0.8007 to avoid a double correction. Up from wave ((4)) low, wave ((i)) ended at...
USDZAR Holds Neutral as MAs Cap Gains
USDZAR remains stuck in a sideways range both in the short and medium terms, with prices struggling to gain traction below the thin Ichimoku cloud. Aside from the cloud bottom posing a major obstacle in the 15.0750 region, the bulls...
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